Point72 Asset Management L.P. Raises Holdings in RCI Hospitality Holdings Inc (NASDAQ:RICK)

Point72 Asset Management L.P. lifted its position in RCI Hospitality Holdings Inc (NASDAQ:RICK) by 146.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,961 shares of the restaurant operator’s stock after acquiring an additional 2,948 shares during the quarter. Point72 Asset Management L.P.’s holdings in RCI Hospitality were worth $221,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in RCI Hospitality in the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of RCI Hospitality by 254.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 498 shares in the last quarter. Copeland Capital Management LLC bought a new stake in RCI Hospitality in the third quarter worth $54,000. Victory Capital Management Inc. purchased a new stake in RCI Hospitality during the second quarter valued at $76,000. Finally, FMR LLC lifted its position in RCI Hospitality by 132.6% during the third quarter. FMR LLC now owns 1,800 shares of the restaurant operator’s stock valued at $80,000 after purchasing an additional 1,026 shares during the last quarter. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of RCI Hospitality from a “hold” rating to a “buy” rating in a report on Monday, October 7th. HC Wainwright reissued a “buy” rating and set a $98.00 price objective on shares of RCI Hospitality in a research note on Wednesday, November 6th.

RCI Hospitality Stock Down 1.2 %

NASDAQ RICK opened at $52.30 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80. RCI Hospitality Holdings Inc has a 52 week low of $37.61 and a 52 week high of $69.40. The firm has a market capitalization of $470.54 million, a price-to-earnings ratio of 100.58 and a beta of 1.60. The company has a fifty day moving average of $47.44 and a two-hundred day moving average of $45.58.

RCI Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a dividend of $0.07 per share. The ex-dividend date is Monday, December 16th. This represents a $0.28 annualized dividend and a yield of 0.54%. RCI Hospitality’s payout ratio is 53.85%.

RCI Hospitality Profile

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.